The Hustle

The rise and fall of Juul

How the e-cig of the future became a relic of the past.

Selina Lee

In 2018, Juul was everywhere from college campuses to middle school bathrooms.

So, unsurprisingly, Marlboro parent company Altria ponied up $12.8B that year for 35% of the e-cig pioneer and Silicon Valley jewel, notching it a $38B valuation.

But something else happened

Multiple outlets reported a Juul epidemic taking place in American schools, leading the FDA to take action, including:

In June, the FDA banned Juul from selling its products in the US, and ordered the company to remove its existing lineup from the market.

Altria’s stake in Juul…

… has since plummeted 97% in value to $450m, per WSJ.

However that effort goes, it’s unlikely consumers will feel as strongly about its flavors as the Juul faithful.

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